Benefits of Getting a Job during Divorce
The days of getting maintenance for life are over. High wealth spouses may get a large settlement, but it is rare to receive spousal support for decades. If you have been a stay-at-home parent – your solicitor may insist upon you finding a job during divorce proceedings for these reasons: You have a source of income. To get a sense of empowerment. One feels more in control of their life when being employed and not being financially dependent upon someone else. When both spouses are making some money (no matter how little) the balance of power shifts away from the sole earner. One does not appear desperate during divorce, even if earning much less than their former partner. The new job’s salary can factor into the maintenance equation. In some countries the amount of income for both spouses is taken into consideration. Instead looking at a potential salary which can be unrealistic, what one is presently earning in the new job may be used when determining maintenance. For example, a nurse who worked with her husband in an office got a divorce and lost her job. Her solicitor mandated that she get another one immediately. She did, but in retail. She had not worked in a hospital in over two decades, yet her husband and his solicitor were trying to say her salary would be X amount if she got a job in the operating room. This was an unreasonable expectation, especially when other candidates would be more qualified for that position. Her solicitor said no, what she is currently earning would be the guide for the amount of spousal support. Had she not gotten that lower paying job quickly, she would have received less in support. How do you go about getting a job in a hurry? Update your…
Take a Pause in Divorce
Divorce can seem like a roller coaster ride – speeding along at break neck speed with a multitude of decisions needing to be made. During this frenetic time it is okay to put the brakes on and take a breather. The mind gets overloaded when stressed out and one can feel like they are wandering around in a fog. This is when you hit the pause button. The Harvard Business Review said that taking a break from tasks helps one to reevaluate what they are trying to achieve. It is a way to step back and look at the whole picture so as not to get caught up in the minutia. This advice is helpful in the divorce process when one tends to just see what is immediately in front of them instead of the future outcome. It is okay to inform your mediator or solicitor that you require a short pause in the proceedings. Just as a computer stops and reboots for optimal functioning – do this yourself. Taking a pause, whether for a day or a week, resets your mind and body. Walking in a nearby park is relaxing and helps one to face the crazy day. There are many studies showing the benefits of nature on one’s mental and physical well-being. Dr. Marc Berman of the University of Michigan, USA conducted a study which found that walking in nature improved test subjects’ memories and attention spans by twenty percent. If you are forgetting details during your divorce, consider taking your break in a leafy area. When one feels pushed into hasty decisions – this can backfire down the road. Making snap decisions to move house or not taking a more diversified portfolio when splitting assets, can haunt you later. Think about taking an afternoon off from work…
Modern Reasons to Get a Prenuptial Agreement
When prenups first became popular, they were often seen as a weapon by which wealthy spouses took advantage of less sophisticated (and less wealthy) partners. Therefore, it’s not a surprise that so many people today have an instinctively negative reaction when they hear the term “prenuptial agreement.” To make it worse, it seems like every week we are hearing about another messy divorces amongst celebrities and their high-stake prenups. As mentioned in Wendi Schuller’s new book, The Global Guide to Divorce, prenups can be crucial to your “happily ever after”, whether you stay married or get a divorce. The Global Guide to Divorce also relays that marriage and divorce is evolving with the times. Modern-day marriage is not only a romantic relationship, but is also a business partnership. In fact, marriage throughout history has been an arrangement of sharing property, while the romantic aspect of marriage is a relatively modern development. Similar to a true business partnership, prenuptial agreements are used to protect both spouses. The divorce attorneys in Scottsdale suggest prenups for people in their 30s or older with any substantial assets, children or a former spouse. Prenuptial agreements are particularly useful for people who are entering into a second marriage. In the case of remarriage, one or both spouses may already have significant assets, and may want to arrange that family members from the first marriage inherit property and assets. Modern-day couples are obtaining prenups for five main reasons: Spouses who have children from a prior marriage are often concerned about their future financial protection. A prenuptial agreement can be used to ensure your children (and your spouse) will be taken care of as you wish, if something happens to you. A prenuptial agreement can protect against joint liability on individual debts. For example, if a spouse owns…
Starting a New Business Post-Divorce
Divorce brings changes into one’s life with the opportunity to embark on a new career path. You may decide to train for a different field which you are passionate about. Plenty of people have opened cafes, boutiques or became entrepreneurs. The trick is not to jump into starting a business without doing the groundwork first, no matter how exciting your idea is. Do market research to see how feasible your idea is and to determine your target group of consumers. Some hire a professional to analyse the competition and if the product will fulfil a need. They will look at demographics and suggest a location if it is to have a physical place. Make sure you found a niche or are presenting something in a unique way, whether online or not. For example, if you dream of making cakes and the result of a market analysis shows there are already two shops selling them, do it differently. Perhaps produce luscious cupcakes and traditional European cookies in a coffee house setting for better sales. Write a detailed business plan. This includes determining the cost of each unit, where it will be made and logistics, such as the shipping from a factory. Will you make a product yourself or hire staff? Think about web site design, start-up costs, how you plan to market it and cover all aspects of your business. Globally there are charities which help budding entrepreneurs write a business plan or mentor when getting started with a business. There are templates online to help one with this task. Banks will need to examine your business plan to decide whether to give a loan. Will you be selling online exclusively or is there a possibility of wanting a store? Sort out your financial situation. Can you cover the start-up yourself…
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